The CSA announced yesterday that relief exempting IIROC members from the requirement to provide relationship disclosure information, as prescribed under s. 14.2(1) of NI 31-103,  would be extended to March 26, 2014.

CSA members initially provided an exemption from the requirements of s. 14.2(1), set to expire on December 31, 2013, to the benefit of IIROC members that complied with IIROC's rules once in force. As we discussed last year, IIROC adopted specific requirements for relationship disclosure as part of its Client Relationship Model Project, with implementation planned for March 26, 2013 for new clients and March 26, 2014 for existing clients. As IIROC's rules will not come into effect until next year in respect of existing clients, the CSA relief will extend its exemption in respect of existing clients to March 26, 2014 in order to harmonize with IIROC's implementation schedule.

The relief orders, being issued by CSA jurisdictions, will come into effect on December 31, 2013. For more information, see CSA Staff Notice 31-335.